Foreign Business Setup in Thailand — Complete 2026 Guide

Thailand is still one of the most accessible markets in Southeast Asia for a foreign founder. The path from "I want to open a Bangkok company" to "I have a corporate bank account, a work permit, and a clean filing calendar" is regulated end-to-end — but it is not actually mysterious once you know the sequence. The Foreign Business Act B.E. 2542 (RSM Thailand) defines what foreigners can and cannot own, and as of 1 January 2026 every new company registration runs through the DBD Biz Regist platform (Silk Legal). Paper filings are gone.

We walk US, UK, EU and Australian founders through the same sequence every week — entity choice, DBD incorporation, tax, banking, visa and work permit, social security, and the first 12 months of filings. Below is the version we hand to clients on day one, with realistic costs and timelines.

Step 1 — Pre-Incorporation Due Diligence

Pick the entity before you pick a company name. There are four mainstream tracks:

• Thai Limited Company (49% foreign cap): Default route. Fast and cheap, but a Thai national or Thai entity must hold 51% of shares unless your activity sits outside the Foreign Business Act lists (Baker McKenzie schedules).
• BOI-promoted company: 100% foreign ownership, corporate income tax holidays up to 13 years, import duty exemptions, land ownership rights, and exemption from the 4:1 Thai-to-foreign employee ratio (Emerhub BOI guide; Issa Compass). Requires activity eligibility and a 4—6 month application cycle.
• US Treaty of Amity company: US citizens or US-majority-owned entities can hold 100% of a Thai company under the 1966 Treaty of Amity, bypassing most FBA restrictions (US Embassy Thailand).
• Representative Office / Branch: Non-revenue presence only — fine for market research and liaison, not for selling.

Cross-check your intended activity against FBA List 1 (prohibited — media, land trading, agriculture), List 2 (Cabinet-approved, e.g. domestic transport) and List 3 (restricted services and trading, requires a Foreign Business License) (Wikipedia summary).

Step 2 — Company Registration with DBD

From 1 January 2026, partnership and private limited registrations must be filed through the DBD Biz Regist e-platform (Belaws). Expect the following:

• Name reservation with DBD (1—3 business days).
• Memorandum of Association (MoA): at least 2 shareholders for a private limited company.
• Statutory meeting and registration: can be filed the same day as the MoA on Biz Regist.
• Government fees: roughly THB 6,500—7,500 for a standard THB 1M capital company, all in.
• Timeline: 2—4 weeks end-to-end for a standard Thai LLC, longer if you need a Foreign Business License or BOI certificate.

Note the 2026 evidentiary tightening under DBD Order No. 1/2569 (effective 1 April 2026): when foreign participation is added or shareholding composition changes, the DBD registrar applies an "actual control" test. Thai shareholders must submit a Written Confirmation of Investment plus three months of bank statements proving the funds for share subscription are genuine (AIM Bangkok). Nominee structures are being actively flagged with criminal liability under the Foreign Business Act.

Most founders also peg registered capital at THB 2,000,000 per foreign work permit (THB 1M if married to a Thai), because the Department of Employment ties work permit quotas to paid-up capital (ThailandLawOnline).

Step 3 — Tax Registration with the Revenue Department

Within 60 days of incorporation you must apply for a corporate Tax Identification Number (TIN) at the Revenue Department. VAT registration is then triggered by either of:

• Annual taxable revenue exceeding THB 1,800,000, or THB 300,000 in any single month — register within 30 days (Stripe VAT guide).
• Voluntary registration below the threshold (often required by clients or for input-VAT recovery).

Standard VAT is 7% (extended at the reduced rate through 30 September 2026 by Royal Decree). Failure to register is a criminal offence under Section 90/2 of the Revenue Code.

Step 4 — Open a Corporate Bank Account

Plan for friction. Thai banks now apply enhanced KYC on foreign-participated companies:

• Bangkok Bank is widely regarded as the most foreigner-friendly for corporate onboarding.
• KBank typically requires the foreign director to hold a Non-B visa and work permit, though larger branches are flexible.
• SCB is the strictest of the three; expect a work permit or long-term visa requirement.

Bring the DBD certificate, MoA, shareholder list (BOJ 5), tax ID card, board resolution authorising the account, passports and visas of all signatories, and proof of registered office. All foreign-issued corporate documents need certified Thai translation and, in some cases, Royal Thai Embassy legalisation.

Step 5 — Non-B Visa, LTR Visa, or BOI Work Permit

A foreign founder operating in Thailand needs both a visa (right to be here) and a work permit (right to work). Three tracks:

Long-Term Resident (LTR) Visa — the premium option for senior tech and HNW founders. Preliminary document review takes 3 working days, qualification endorsement another 17, for ~20 business days total to approval. The actual work permit via the BOI One-Stop Centre then takes only 3—5 working days. LTR is valid for up to 4 years, renewable, includes full working rights for spouses, and exempts the holder from the 4:1 ratio requirement.

Standard Non-B + Work Permit — the default sequence:

1. Apply for the Non-B visa at a Thai embassy abroad using the company's invitation letter and DBD documents.
2. Enter Thailand on the Non-B.
3. File the work permit application (WP3 then WP10) at the Department of Employment.

Standard requirements: THB 2,000,000 paid-up capital per foreign work permit and a 4:1 Thai-to-foreign employee ratio (Issa Compass). BOI-promoted companies are exempt from the 4:1 ratio and process work permits through the BOI One-Stop Service Centre. Working without a permit triggers flat-fee penalties — employers face THB 10,000—100,000 per foreigner under the Foreign Workers Management Emergency Decree; the foreign worker personally faces THB 5,000—50,000. These are per-offence fines, not per-day.

Step 6 — Social Security Registration

Within 30 days of hiring your first employee (Thai or foreign), file SSO Form 1-01 (employer) and SSO Form 1-03 (employee) with the Social Security Office (Acclime). Monthly contributions are 5% from employer and 5% from employee. As of 1 January 2026, the wage ceiling rose to THB 17,500, capping contributions at THB 875 each side per month — due by the 15th of the following month. Foreign employees must have a valid work permit before SSO enrolment.

Step 7 — Your First Filing Calendar

Recurring obligations once trading begins (Forvis Mazars; Sherrings):

• PND.1 — payroll withholding tax — monthly, by the 15th (e-filing).
• PND.3 — withholding on payments to individuals — monthly, by the 15th.
• PND.53 — withholding on payments to companies — monthly, by the 15th.
• PP.30 — monthly VAT return — by the 15th (23rd e-filing).
• SSO monthly contribution — by the 15th.
• PND.51 — half-year corporate income tax estimate — by 31 August (within 2 months of half-year end).
• PND.50 — annual corporate income tax return — within 150 days of fiscal year end.
• Audited financial statements — filed with DBD within 1 month of AGM approval, AGM within 4 months of year-end.

Estimated Total Cost and Timeline

Track	Setup cost (THB)	Timeline to operational
Thai LLC (49% foreign)	35,000—80,000 incl. fees	4—6 weeks
US Treaty of Amity	80,000—150,000	6—10 weeks
BOI-promoted	150,000—350,000	4—6 months
Representative Office	60,000—120,000	4—8 weeks

Add THB 2M paid-up capital per work permit (loan-able, not necessarily wired in for sub-THB 5M caps) and bank initial deposit of THB 500—50,000.